Allspring Global Investments Holdings LLC Acquires 587 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Allspring Global Investments Holdings LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,412 shares of the semiconductor company's stock after purchasing an additional 587 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Synopsys were worth $26,268,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its stake in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC grew its position in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after buying an additional 335,993 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $633,469,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Down 4.5 %

SNPS stock traded down $23.75 during midday trading on Wednesday, hitting $501.25. 2,152,912 shares of the company traded hands, compared to its average volume of 1,030,242. The business has a 50 day simple moving average of $511.45 and a 200-day simple moving average of $517.72. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market capitalization of $77.48 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.42 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNPS shares. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $641.82.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.